Brazil Announces Large Offshore Oil Find  

Posted by Big Gav in ,

The Latin American Herald Tribune has an article on Brazil's latest deepwater offshore oil find - Brazil Announces Large Offshore Oil Find. I wonder if Petrobras will manage to avoid covering the Atlantic with oil as they develop all these prospects ?

Brazil’s National Petroleum Agency, or ANP, announced the discovery of about 4.5 billion barrels of recoverable oil in a massive offshore region.

The deepwater, 272-meter-thick column of medium oil with an API gravity of 30 degrees was found at the 2-ANP-1-RJS, or Franco, well off the coast of Rio de Janeiro state, the agency said.

The ANP also said drilling has already begun at a second well located 32 kilometers (20 miles) away.

The Franco well is the second-biggest oil find in the massive pre-salt region, which is so-named because the estimated 80 billion barrels of oil equivalent it may contain are located deep below the ocean floor under an unstable layer of salt.

Franco is located 45 kilometers (28 miles) from Iara, a well owned and operated by state-controlled oil company Petrobras that has an estimated 3-4 billion barrels of reserves.

Another pre-salt well – Tupi, with estimated reserves of between 5-8 billion barrels of crude and natural gas – represents the biggest find in the Americas in decades.

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